This is the third article of the regular Klein Law Group column. To read the previous article on setting up a company in Georgia, please visit the link below.
Georgia is not only a tech hub, it is also a very popular destination for digital nomads, especially Americans who have limited ability to stay visa-free (for more than 3 months) in Europe and other destinations. In reference to our last legal column, taxes can be as low as 1% (see Legal Insights with Klein Law: 1% Tax Rates for Entrepreneurs and Other Georgian Attractive Tax Rates – Georgia Today).
Types of Residence Permits
Georgia offers different types of residence permits tailored to meet the diverse needs of individuals. The most common ones include:
Temporary Residence Permit: This permit is suitable for those seeking long-term stays in Georgia. It is issued for a period of up to six years and allows individuals to work, study, or engage in business activities within the country.
Permanent Residence Permit: After residing in Georgia for a continuous period of six years with a temporary residence permit, foreigners can apply for permanent residence. This permit grants individuals the right to live and work in Georgia indefinitely, offering the potential for citizenship after a certain period.
Special Residence Permit: This permit is designed for individuals who have made significant contributions to Georgia, such as investors, highly skilled professionals, or those with exceptional talents in the arts, sciences, or sports. It provides an accelerated pathway to obtaining residency and citizenship.
Benefits of Residence Permits
Obtaining a residence permit in Georgia opens up a plethora of benefits for foreigners.
Business Opportunities: Georgia’s strategic location and business-friendly environment make it an ideal destination for entrepreneurs and investors. A residence permit enables individuals to establish and operate their businesses, tap into the emerging markets, and benefit from the country’s favorable tax regime.
Education and Research: Georgia boasts several prestigious universities and research institutions, offering quality education and research opportunities. Residence permits allow students and researchers to access these institutions, pursue academic excellence, and contribute to their chosen fields.
Healthcare and Social Benefits: Residence permit holders in Georgia can access the country’s healthcare system, ensuring comprehensive medical care. They are also entitled to social benefits, including pension schemes, insurance, and other social security provisions.
Schengen and Travel and Visa-Free Access: Georgian residence permit holders enjoy visa-free or visa-on-arrival access to various countries, including the Schengen Area, Turkey, and several other nations. This facilitates easy travel and exploration of neighboring regions.
Georgian Citizenship
Georgian citizenship is also available, but this requires investments – investments in real estate for dwelling purposes usually do not suffice.
Georgia’s residence permits offer a gateway to a vibrant and promising future for foreigners seeking to embrace the country’s rich cultural heritage, breathtaking landscapes, and economic opportunities. With a range of permit options, individuals can choose a path that aligns with their goals and aspirations.
Whether it’s starting a business, pursuing higher education, or enjoying the country’s warm hospitality, Georgia welcomes expatriates with open arms. By obtaining a residence permit, individuals can embark on a remarkable journey of personal and professional growth in this enchanting Caucasian nation.
Read the first Klein Law Group column for Georgia Today here.
www.kleinlawgroupgeorgia.com
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